What sets an intermediate term goal apart from other goals?
Unlike short term goals, intermediate goals are usually large enough that they can’t be dealt with by using consumer credit. However, unlike long term goals, they aren’t big enough to influence major life choices. They fall into that middle category. Goals like these require some careful planning, because left unattended, these goals can fall apart on you and can also ensnare you in debt. Clearly define the goal. What are you actually shooting for? Usually, it’s to completely pay off a debt or to make a significant purchase in cash (like an automobile). Nail down exactly what you’re trying to do, then do the math to see how much money you’ll need to make it happen. Break the goal down into short term goals. Set up annual milestones, then treat these milestones as short term goals. For example, you might set a goal of saving $5,000 towards an automobile each year so that in five years you can buy a late model used Lexus (something we’ve discussed). Then that $5,000 becomes a short term
